Debt and credit

The Importance of Credit Monitoring in the Digital Age

money on deskThe pace of life is becoming increasingly faster, as we move further along the digital age. Everything is done with the click of a button or a touch of a screen, and within seconds you have your result. Banking is no different with each of us holding at least 1 credit or debit card to our names. With most of us receiving our incomes through a bank, the easiest way to pay our utilities or do our shopping is through a credit/debit card of some sort. This might be a convenient way to get things done quickly, while not having to leave the comfort of your chair – however without actual cash passing through your hands, it is easy to lose track of your spending. Long credit card statements can be confusing, especially when many businesses use different names from what you know them, on the statements. Looking at my credit card statements right now, I see several credits that I don’t immediately recognize; do I call my bank for clarification or search the net for validating information? Either would take up my time, making the process of using a credit card to cut time, pointless. Credit monitoring shouldn’t be confusing and shouldn’t take up a lot of your time. That’s why many people nowadays choose to use a credit monitoring service.

What are credit monitoring services?

Credit monitoring services are an easy, safe and convenient way to protect yourself against credit fraud. Not only does it keep your credit cards safe by alerting you of any purchases or withdrawals made, it also keeps you up to date on your credit score rating and many other useful and vital stats. The services are also there to help you deal with any credit card fraud, if it ever occurs. Also, as mentioned above, you can continue to save time, having the service you choose, scan your credit card statements for any duplicate or fraudulent payments. Saving time doesn’t only mean that you won’t waste precious time, but more importantly, that if fraud did occur, you will have it handled immediately, without delay.

What should you do if credit fraud happens to you?

Firstly, if you are not using credit monitoring services, then you should contact your bank immediately. Time is always of the essence when it comes to fraud – and a delay of just a few days to notice that fraud has occurred, can cost you dearly. What most people don’t realise is, credit card fraud can go way beyond just losing your money – if the fraudsters are especially proficient in their malicious attack, they can steal private information such as, social security numbers, Identity cards, home addresses and dates of birth, just to name a few. The key to protecting yourself is to be vigilant in looking out for fraud, and move quickly when you see it has happened.

We basically are accustomed to juggling too many balls at once – that might make us skilled jugglers, but it doesn’t help us keep our information safe. With so many solutions available at hand, why would we add more pressure to ourselves? Time is everything to us, and if we don’t learn to manage our time efficiently, then we will end up either burning out, or giving in. If we found credit cards to be a time saving solution, albeit an imperfect one, we should consider how we can optimise our use of them. Having a safeguard over our financial transactions should be considered in the same way as taking out an insurance for your car. If heaven forbid something happens, you at least have the safety of being covered.

As mentioned above, monitoring your credit cards online offers you many benefits. Time saving, fraud stopping, and clear and precise control of your financial situation with each card. Although credit fraud may not have happened to us yet, there is no reason to stay unprotected.

If you have any questions, please ask below!